February 2020, Bogotá. In accordance with the terms set out in the information prospectus for Pei’s Equity Securities Issuance and Placement Program, Pei will make the Distributable Cash Flow (DCF) payment generated during the second half of 2019 on February 14, 2020.
The Distributable Cash Flow generated by Pei’s portfolio operations in 2019 was 269 billion pesos. Of this amount, COP 124,574 million was paid to investors in August 2019; the remainder, COP 144,510 million, will be delivered to Equity Securities investors in proportion to the number of securities held as of the day prior to the payment date, at a rate of COP 334,963 per Security.
This amount corresponds to an annual Distributable Cash Flow yield (Dividend Yield) of 5.25% for 2019, a level that has recovered over the past two years. This result is mainly explained by revenue performance, the stabilization of commercial assets added to Pei since late 2016, and the cash flow contribution from assets added over the past 12 months.
The corresponding payment will be subject to applicable withholdings based on the tax status of each Equity Securities Investor.
In accordance with the terms established at the Extraordinary Assembly of Investors held in December 2018, the Distributable Cash Flow will begin to be distributed quarterly during the course of this year. Progress on this process and its implementation will be officially communicated in a timely manner.
The Distributable Cash Flow for the second half of 2019 was authorized by the Advisory Committee.